U.S. hedge fund giant Citadel Investment Group is establishing a Hong Kong-based equity desk, spearheaded by Tim Throsby, global head of equity derivatives for Lehman Brothers in New York. Throsby is set to start at the firm shortly (DW, 7/18). "Under Tim's guidance they anticipate making significant progress in expanding their presence in this key geographic region," said Kathryn Beiser, spokeswoman for the firm in an email to DW, declining to further elaborate.
Citadel is globally looking to set up as an equity derivative market maker, noted market officials. "It looks like they're becoming our competitors," said an equity derivatives head at a bulge bracket house. Throsby did not return calls placed to his cell phone.